Pepper Market November 7, 2024

 

Pepper Market November 7, 2024: Price increases again

Posted onNovember 7, 2024by VPA

07
Nov

Pepper prices today (November 7) continued to increase again to around 138,000 - 139,000 VND/kg. According to VPSA, by the end of October, Vietnam had exported 219,387 tons of pepper with a total turnover of over 1.1 billion USD, down 1.9% in volume but up 48% in turnover.

 

In the world market

Updated from the International Pepper Community (IPC), in the most recent trading session,  the price of   Indonesian Lampung black pepper continued to extend its downward trend to 6,634 USD/ton, down 0.47% compared to the previous trading session.

Elsewhere, pepper prices remained stable. Of which, Brazilian pepper ASTA 570 was flat at $6,300/ton after falling the previous day; Malaysian Kuching black pepper was priced at $8,500/ton.

 Vietnam's  export  prices of 500 g/l and 550 g/l black pepper remain stable at around 6,500 - 6,800 USD/ton.

 

 

Update pepper information

According to preliminary statistics from the Vietnam Pepper and Spice Association (VPSA), in October, Vietnam exported 18,493 tons of pepper of all kinds with a turnover of 120.2 million USD. The export volume increased by 7.9% compared to the previous month, but decreased by 3.6% compared to the same period last year.

The average export price of black pepper in the month reached 6,284 USD/ton, down 28 USD compared to the previous month, while the price of white pepper reached 8,029 USD/ton, up 191 USD.

The US remained the largest export market in October, accounting for 27.7% of total exports, reaching 5,128 tons, down 8.5% compared to September. The following markets were Hong Kong: 1,784 tons, UAE: 1,382 tons, the Netherlands: 1,000 tons and Germany: 960 tons.

Meanwhile, Olam was still the largest exporter last month, reaching 2,595 tons, accounting for 14.0%, followed by the following enterprises: Nedspice Vietnam: 1,878 tons, Phuc Sinh: 1,605 tons, Tran Chau: 1,397 tons and Lien Thanh: 1,202 tons.

By the end of October, Vietnam had exported a total of 219,387 tons of pepper of all kinds with a turnover of more than 1.1 billion USD, a slight decrease of 1.9% in volume but a sharp increase of 48% in turnover compared to the same period last year.

Of which, black pepper exports reached 193,892 tons, white pepper reached 25,495 tons (black pepper decreased by 3.3% while white pepper increased by 10.8%), corresponding to turnover of 881.6 million USD and 162.6 million USD.

The average export price of black pepper in 10 months reached 4,971 USD/ton, an increase of 1,528 USD/ton and white pepper reached 6,626 USD/ton, an increase of 1,671 USD/ton compared to the same period in 2023.

Regarding export markets, the US is the largest export market for Vietnamese pepper after 10 months, accounting for 28.5% reaching 62,553 tons, up 46.8% over the same period last year.

Next are the markets: UAE: 14,540 tons, accounting for 6.6%, up 45.0%; Germany: 13,737 tons, accounting for 6.3%, up 77.2%; India: 9,428 tons, accounting for 4.3%, down 10.5% and the Netherlands: 9,295 tons, accounting for 4.2%, up 41.2% over the same period. China is Vietnam's 6th largest export market, reaching 9,252 tons, but compared to the same period, the export volume decreased by 84%.

Olam Vietnam is the largest exporter in the first 10 months of 2024, reaching 23,160 tons, accounting for 10.6% and increasing by 51.1% over the same period. Next are the following enterprises: Phuc Sinh: 20,118 tons, accounting for 9.2%, increasing by 58.2%; Nedspice Vietnam: 17,014 tons, accounting for 7.8%, increasing by 10.0%; Haprosimex JSC: 16,002 tons, accounting for 7.3%, increasing by 77.5% and Tran Chau: 14,031 tons, accounting for 6.4% and decreasing by 0.8%...

According to VietnamBiz.vn